By Dean Seal
T.J. Maxx parent company TJX reported higher revenue for the spring quarter as each of its banners saw an increase in customer transactions.
The operator of discount retailers, including Marshalls and Homegoods, posted a profit of $1.04 billion for the fiscal first quarter ended May 3, down slightly from $1.07 billion in the same quarter a year earlier.
Per-share earnings of 92 cents were a penny higher than analyst estimates, according to FactSet.
Sales rose 5% to $13.11 billion, above analyst expectations for $13.02 billion.
Comparable sales, which adjust for store openings and closings, were up 3% across the company. That was slightly below the 3.1% gain analysts polled by FactSet had been expecting. Marshall's and T.J. Maxx logged a combined 2% lift, while HomeGoods had a 4% jump in comparable sales and the company's overseas businesses logged 5% increases.
Every division saw a rise in customer transactions, Chief Executive Ernie Herrman said. The current quarter is off to a strong start, he said.
The company is maintaining full-year guidance for comparable sales to increase 2% to 3%, assuming current tariff levels between the U.S. and China stay in place for the rest of the year, TJX said.
For the current quarter, TJX expects comparable sales to rise 2% to 3% as well, and for earnings to be in the range of 97 cents to $1 a share, below analyst forecasts for $1.03 a share.
Shares ticked down 1.8% to $132.50 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 21, 2025 07:54 ET (11:54 GMT)
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